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china economy tips
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china economy tips
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Business in China tips
China is presenting itself as an attractive investment opportunity. Today China ranks as the world’s sixth-largest economy. In just over 10 years its share of global trade is projected to be equal to that of the US. In 20 years, China is expected to be the world’s largest economy.
China is easy to describe as a consuming and exporting powerhouse (consumer- and export-driven growth). Its rising GDP per capita means increased spending power for Chinese consumers. Over half of its population is under 34 years old - young people, in their peak earning years.
Chinese prosperity will lead to new opportunities
China has 15 cars per 1,000 people, the US has 700 cars per 1,000 people. If car ownership in China doubles to just 30 cars per 1,000 people, it would mean 19.5 million new cars being purchased. Around 40% of China’s population live in cities, but the number of city-dwellers is increasing fast. As people migrate to cities, spending on real estate and infrastructure will increase.
Chinese exports have doubled in about 5 years. By contrast it generally takes most leading industrialised countries closer to 10 years to double exports. Nowadays goods were exported from China’s Guangdong province, which includes the busy Pearl River Delta, the average Chinese wages are the equivalent of about 1/20 of wages in G7 countries, increasingly making it the manufacturing hub of the world. And in addition to that, the Olympics 2008 is expected to drive at least US$33 billion in investments and contribute about US$180 billion in signed contacts.
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